Alibaba Invests $360M In Logistics Partnership With Haier

Law360, New York (December 9, 2013, 9:30 PM EST) -- Alibaba Group plans to invest HK$2.82 billion ($361 million) in appliance manufacturer Haier Electronics Group Co. Ltd., under a deal between the companies to form a logistics joint venture offering the Chinese e-commerce giant easier access to consumers in the massive country's mountainous interior, Haier announced Friday.

The deal is designed to build up Haier's distribution arm, Qingdao Haier Logistics Co. Ltd. — better known as Goodaymart — into a platform on which other companies could rely for the delivery of appliances, furniture and other bulky...
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